The Bar Business Podcast: Bar & Pub Owner Profits, Marketing & Operations

Unlock the secrets to a successful bar purchase with our essential guide to seven bar purchase considerations on the Bar Business Podcast. This week, we're spilling the beans on everything from navigating the murky waters of stock sales versus asset sales, to dissecting the real fiscal health behind those too-good-to-be-true financial statements. If you've ever daydreamed about owning your own bar or are knee-deep in the process, this episode is your roadmap to sidestepping the common pitfalls and sailing straight into profitable ownership.

Ever wondered how local politics can impact your dream of bar ownership, or what it really takes to get on your landlord's good side? Strap in for a deep dive into the elements that can make or break your bar venture. From the labyrinth of liquor licensing to the ins and outs of lease agreements, this episode is packed with expert advice to ensure you're not left high and dry when it comes to the nuts and bolts of purchasing a bar. Plus, we're serving up the need-to-know on navigating health codes, building regulations, and those all-important inspections.

And let's not forget about the backbone of any bar—the staff. We're breaking down the challenges you might face with staffing changes and dishing out strategies to handle the inevitable turnover. To wrap it all up, we share thrilling tales of caution, like that time the unexpected happened and equipment decided to take a sudden vacation. This episode isn't just about buying a bar; it's about thriving in the aftermath, so grab your notepad and let's raise a glass to your future success in the bar biz.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Ever wondered how to ensure your bar isn't just surviving, but actually thriving? Strap in for a masterclass as we unravel the secrets to menu pricing that marry competitiveness with profitability. We kick things off with a step-by-step breakdown of how to adjust your prices in response to supplier cost hikes—a timely move as we usher in the new year. Discover the formula for setting margins that keep your business booming, all while navigating the complexities of ingredient costs through practical examples. Whether you're pouring a simple beer or mixing an upscale Paloma, I'll show you how to price with precision.

Let's talk strategy. In the heart of this episode, I put on my bar business coach hat and guide you through profit-boosting solutions that hinge on meticulous product costing. It's about more than just knowing what goes into that cocktail shaker; it's about understanding every cent and its impact on your bottom line. I'll take you through the differences in making a cocktail like the Paloma across various bar settings, emphasizing the substantial effect ingredient quality has on pricing. It's a deep dive into the nitty-gritty of cost calculation, and how that forms the bedrock of a successful pricing strategy.

Wrapping up, we venture into the art of setting a final price that not only makes sense to your customers but pads your profits. Learn why rounding up can safeguard against unforeseen losses, and why keeping an eye on the competition is crucial. I'll even dish out some insider knowledge on when to bend the rules on pricing to stay ahead of the game. So, pour yourself a drink and let's raise a glass to smarter pricing and higher profits.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Are you ready to glimpse the future? Tune in for an enlightening conversation about the upcoming 2024 bar industry trends. We're talking martini resurgence, the potential rum comeback, and the need for innovative ingredients. It's clear that flexibility and a focus on local communities will be key for bars in the post-COVID era. And, for those who appreciate a good drink, but not necessarily the buzz, we're discussing the rise of low-alcohol and non-alcoholic beverages, sober months, and the emergence of wine-based cocktails.

The future of the bar business isn't all about the drinks though. We're chatting about the growing popularity of small plates and the need for more frequent menu changes. We also cover price sensitivity in the hospitality industry and the growing trend of house-made items—everything from salad dressings to non-alcoholic beverages. In this changing landscape, it's all about providing fantastic experiences at fair prices, and we'll discuss how bars can adapt to meet these challenges.

But we're not stopping there. We're delving into the broader industry and tech trends that could shape 2024 in unexpected ways. Will late-night activities decline amidst a cultural shift and increasing safety concerns? Is tech in the front of the house a thing of the past, or will it find a new home in the back of the house? If you're interested in what the future holds for the bar industry, you won't want to miss out on this episode.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Ever wondered what separates a profitable bar business from the rest? Let's crack the code together! Join me, Chris Schneider, as we delve into the intriguing world of bars, spotlighting the vital yet often overlooked details that can skyrocket your business to new heights. From the significance of maintaining your physical and mental health to creating a seamless customer experience, we'll lay bare the essentials that make the best bars stand apart from the rest. We'll also break down how your mindset, concept, and culture can either make or break your success.

As if that wasn't enough, we're going to peel back the layers of consistent branding and culture. That's right - it's more than just your logo or font. We’re talking about a unified mission, vision, and core values, and how it contributes to your overall success. Discover how the internal and external culture of your bar business affects your bottom line. 

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Greetings Bar owners! As we head towards 2024, we've got your back on how you can set up your business to hit the ground running in the new year. This episode is chock-full of practical steps you need to take, and the strategies you need to implement. Buckle up as we talk about bookkeeping, managing your team, marketing your business, your physical facility, and setting big goals. We've got a treasure trove of insights on how you can leverage these key areas.

We turn our lens to inventory, pricing, and team performance. From scrutinizing your delivery services to assessing the effect of sales and specials on your bottom line, there's no stone left unturned. We're not leaving out your relationships with suppliers and vendors either - Is it time for a switch? We'll talk about the best ways to gauge your team's performance and how to set the right challenges for them. But that's not all, we've also got the lowdown on how to evaluate and adjust your KPIs, and conduct effective employee reviews. Lastly, we're ready to help you set goals that are not just achievable but also relevant. We'll discuss how to create goals that are specific, measurable, achievable, relevant, and time-bound. Remember, the clock is ticking and there are only five weeks left in the year - it's time to jump into action!

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Wondering how to transform your bar business using social media? Unsure of which platforms to focus on or how to create engaging content? We've got you covered in this episode. We're taking a deep look at how you can leverage social media to not only strengthen your relationship with your existing customers, but to catch the eye of new ones. From choosing the right platforms to creating a unique hashtag, we're sharing all the secrets to successful social media bar management.

But we're not stopping there. We're also exploring the captivating world of influencer marketing and offering guidance on how to navigate its complexities. How do you engage with influencers while ensuring their reach aligns with your brand? What's the importance of a strong call to action in all your social media efforts? We've got the answers. Plus, we're also highlighting the importance of great visuals, showcasing your team, and creating content that your followers will love to share.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Are you ready to revolutionize your bar business? We can promise you this: our latest episode will show you exactly how to build a robust leadership pipeline, even if you run a small bar with just a few bartenders. We discuss the utmost importance of a great manager — the backbone of any successful establishment and share secrets to creating a culture that will not just attract but also retain the best talent. Using the kitchen brigade system as a guide, we show you how to design a clear chain of command essential to running a smooth operation. 

Moving beyond the basics, we take you on a journey of creating a stellar management pipeline. We emphasize the need for selecting the right people as trainers, leads, and managers — a crucial factor that can make or break your bar business. The episode also takes a deep dive into potential conflicts that arise when managers double up as bartenders and the importance of having an internal pipeline for employees to grow and succeed. We also discuss how regardless of their role, everyone should start from the bottom to grasp the essence of the business. The episode concludes with us sharing some invaluable insights on training your staff so impeccably that they become the most sought-after in the industry. Tune in and give your bar business the competitive edge it deserves.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Running a bar is no easy task, especially when you're introducing pivotal changes in procedures and policies. There's always the looming question: how do you ensure your team is well-informed and comfortable with these changes? Join us as we explore the landscape of change management in the bar business, diving into everything from effective communication techniques to the importance of creating resources that cement new practices.

Running a bar isn't just about managing the literal bar; it's also about managing stress, mental health, and building trust within your team. We're pulling back the curtain and discussing the trials and tribulations of maintaining mental and physical health in the tumultuous hospitality industry. Let's talk about fostering a positive mindset and healthy routines, and discovering how to support your team's mental health, particularly as we brace for the challenging holiday season.

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Ready to decode the enigma of sales forecasting for your bar business? Strap in for an in-depth exploration as we,  delve into the complex task of sales forecasting, whether you're running an established business, buying an existing bar, or starting a new venture. It’s no easy task, but we’re here to guide you through it, underlining the importance of this crucial tool in managing labor and orders, and steering your bar business to success.

We'll dissect the key elements of forecasting sales - from using mathematical formulas and past data to making necessary adjustments for variables like the day of the week, holidays, and local events. We’re not promising 100% accuracy, but we’ll help you get close, and discuss why that’s essential for your business. We'll explain how to extract valuable insights from previous tax returns and POS records, and how they can guide your forecasting process.

So tune in, folks! With us, you're not just listening to a podcast - you're charting the course for your business' success. Let's navigate the tricky waters of sales forecasting together!

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/ 

Have you ever wondered why your bar's food and beverage costs are spiraling out of control? Brace yourself for an enlightening episode of the Bar Business Podcast, where we dissect Robert Petrie's list of 40 Thieves of Food Cost. Originally developed in 1972, this list remains a crucial tool in understanding the pitfalls of food and beverage service. We thoroughly examine areas that could be bleeding your profits dry - purchasing, receiving, storage, preparation, production, service, and sales. We also explore strategies to identify and eliminate costly mistakes in your operations, ensuring your Key Product Indicators (KPIs) always hit the mark.

Hold tight as we delve into the critical aspect of food storage and inventory management. The episode highlights common drivers of increased costs, such as incorrect food placement, inappropriate storage conditions, and lax inventory. We emphasize the importance of maintaining organized storage and managing credits from suppliers effectively. 

As we tie up this insightful episode, we offer practical solutions to maximize profits and efficiency in your bar's kitchen. From implementing a POS system to forecasting food sales accurately, standardizing recipes, and maintaining a waste log - we leave no stone unturned. Not just that, we emphasize the significance of menu engineering, managing unrecorded sales, and smart utilization of overproduced items. So if you're determined to operate a more profitable bar business, this episode is your goldmine of information. Tune in for an episode packed with value and actionable tips to keep your food costs in check and your profits soaring!

📌Start Here
Own, run, or manage a bar? Join Bar Business Nation.

An EXCLUSIVE private Facebook group for bar owners and operators who want better ways to run the business.

Ask questions, hear what other owners are dealing with, and get ideas you can actually use.

🔴Join here:
 → https://www.facebook.com/groups/barbusinessnation

📌Additional resources
🔴Grab the books “How to Make Top-Shelf Profits in the Bar Business!” and “Menus that Sell” here:
→ https://barbusinesscoach.com/book/